Summit Trail Advisors LLC Raises Holdings in Pioneer Natural Resources (NYSE:PXD)

Summit Trail Advisors LLC boosted its stake in Pioneer Natural Resources (NYSE:PXD) by 15.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,450 shares of the oil and gas development company’s stock after buying an additional 189 shares during the period. Summit Trail Advisors LLC’s holdings in Pioneer Natural Resources were worth $326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Pioneer Natural Resources during the 3rd quarter valued at $134,558,000. Assenagon Asset Management S.A. boosted its holdings in shares of Pioneer Natural Resources by 610.6% during the third quarter. Assenagon Asset Management S.A. now owns 618,449 shares of the oil and gas development company’s stock worth $141,965,000 after purchasing an additional 531,418 shares during the period. International Assets Investment Management LLC grew its stake in shares of Pioneer Natural Resources by 20,425.9% in the fourth quarter. International Assets Investment Management LLC now owns 302,757 shares of the oil and gas development company’s stock worth $68,084,000 after purchasing an additional 301,282 shares during the last quarter. Clearbridge Investments LLC raised its position in Pioneer Natural Resources by 7.6% during the 3rd quarter. Clearbridge Investments LLC now owns 3,259,731 shares of the oil and gas development company’s stock valued at $748,271,000 after purchasing an additional 231,470 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Pioneer Natural Resources by 31.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 778,839 shares of the oil and gas development company’s stock worth $178,782,000 after buying an additional 184,186 shares during the period. Institutional investors own 80.57% of the company’s stock.

Pioneer Natural Resources Stock Performance

PXD stock opened at $269.62 on Wednesday. The stock has a market capitalization of $63.00 billion, a PE ratio of 13.32 and a beta of 1.28. The stock’s 50 day simple moving average is $260.37 and its 200 day simple moving average is $240.89. Pioneer Natural Resources has a 12-month low of $196.74 and a 12-month high of $278.83. The company has a current ratio of 0.90, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20.

Pioneer Natural Resources (NYSE:PXD) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas development company reported $5.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.41 by ($0.13). Pioneer Natural Resources had a net margin of 24.28% and a return on equity of 21.21%. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the company earned $5.91 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Pioneer Natural Resources will post 22.07 earnings per share for the current fiscal year.

Pioneer Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 4th were paid a $2.56 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $10.24 dividend on an annualized basis and a dividend yield of 3.80%. Pioneer Natural Resources’s dividend payout ratio is presently 24.70%.

Insider Activity

In related news, EVP Mark H. Kleinman sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $234.35, for a total value of $820,225.00. Following the sale, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Mark H. Kleinman sold 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $234.35, for a total transaction of $820,225.00. Following the completion of the sale, the executive vice president now owns 49,856 shares in the company, valued at $11,683,753.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the director now directly owns 16,070 shares in the company, valued at $4,017,500. The disclosure for this sale can be found here. Insiders sold 36,766 shares of company stock valued at $9,067,373 over the last three months. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

PXD has been the subject of a number of recent analyst reports. Mizuho upped their target price on Pioneer Natural Resources from $276.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Susquehanna raised their target price on shares of Pioneer Natural Resources from $246.00 to $278.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Stifel Nicolaus increased their price target on shares of Pioneer Natural Resources from $237.00 to $275.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Scotiabank lifted their price objective on Pioneer Natural Resources from $230.00 to $282.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, Truist Financial increased their target price on Pioneer Natural Resources from $238.00 to $278.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $264.10.

Pioneer Natural Resources Company Profile

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States. The company explores for, develops, and produces oil, natural gas liquids (NGLs), and gas. It has operations in the Midland Basin in West Texas. The company was founded in 1997 and is headquartered in Irving, Texas.